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Blackstone Tops $1.21 Trillion in Assets as Q2 Distributable Earnings Jump 25%

Robust credit, insurance and private equity performance propelled fee revenue growth beyond forecasts, triggering a dividend increase.

Signage is seen outside the Blackstone Group headquarters in New York City, U.S., January 18, 2023. REUTERS/Jeenah Moon/File photo
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Overview

  • Distributable earnings rose 25% year-over-year to $1.6 billion, or $1.21 per share, surpassing analyst estimates
  • Asset inflows of $52.1 billion lifted assets under management by 13% to a record $1.21 trillion
  • Fee-related performance revenues soared 167% to $472.1 million on strong demand for high-performance strategies
  • Credit and insurance asset sales reached $10 billion while private equity disposals hit $7.3 billion, underpinning profit gains
  • Revenue climbed 32.7% to $3.71 billion, with the board approving a $0.10 dividend boost to $1.03 per share